Home Improvement Loans


 

Home Improvement, Construction or Purchase

Borrow up to $500,000.00 with a minimum deposit of 5% of the amount required and up to 35 years to repay!

Documents required (Home purchase)

  • Agreement of Sale, or Offer Letter from Vendor.
  • Approved plans from the Town and Country Planning Department.
  • Application and Permission to construct from the Town and Country Planning Department.
  • Valuation on the property by an approved Valuer.
  • Life Insurance policy-where the loan is in excess of $100,000.00.
  • Home Insurance policy.
  • Most recent Land Tax and water bill.

Documents required (Home construction – Wall/Chattel)

  • Title Deeds to the property.
  • Approved plans from the Town and Country Planning Department.
  • Application and Permission to construct from the Town and Country Planning Department.
  • Projected Valuation of finished property by an approved Quantity Surveyor.
  • Builder’s Quotation/Agreement.
  • Life Insurance policy-where the loan is in excess of $100,000.00.
  • Home under construction Insurance policy.

Funds will be disbursed in stages during the construction process.

A Certificate of Compliance from the Town & Country Planning Department will be required prior to the final disbursement.

*Furniture purchase of up to $20,000.00 can be added to this loan (special conditions apply)


CHATTEL MORTGAGES

Borrow up to $120,000.00 with a minimum deposit of 5% of the amount required and up to 15 years to repay

Documents required:

  1. Permission from the owner of the land to occupy the land for the duration of the loan.
  2. Approved plans from the Town and Country Planning Department.
  3. Projected Valuation of finished property by an approved Quantity Surveyor.
  4. Builder’s Quotation/Agreement.
  5. Life Insurance policy-where the loan is in excess of $100,000.00.
  6. Home under construction Insurance policy.

HOME IMPROVEMENT LOANS

'Spruce Up Your Home Loan'

Members benefit from discounts on building materials purchased from our preferred partners. Ask your Loans Officer for details!

Loan Details:

  • Borrow a maximum of BDS$10,000.00.
  • Deposit 1/6 of the amount required.
  • Repayment over 10 years at 12%.

Loan Details:

  • Borrow a maximum of BDS$10,000.00.
  • Repayment over 3 years.
  • Minimum deposit of BDS$1,000.00 for existing members.
  • Minimum deposit of BDS$1,500.00 for new members.
  • A job letter.
  • Two recent pay slips.
  • Signed Salary Deduction Form.
  • Proof of your address-i.e. utility bill